The geophysical survey is the first Electro Magnetic survey ever flown over this belt, and will include a high-sensitivity cesium vapour magnetometer for mapping geologic structure and lithology.
"Results from this survey will complement the PEA underway at our Romero discovery, providing significant newsflow over the next year," commented Julio Espaillat, GoldQuest’s CEO, "ZTEM has been selected in light of our knowledge gained at the Romero discoveries. This allows us to quickly evaluate the complete area to depths beyond 1 kilometer. We are confident that if there are other similar hydro thermal systems in our large Tireo concession areas, we will identify them with this state-of-the-art system."
Geotech Limited of Canada is flying the ZTEM and magnetometry survey over all of GoldQuest’s concessions in the Tireo Formation, totaling approximately 3,000 line kilometers, at a combination of 100 and 200 meters line spacing.
The survey will improve the understanding of the geology and mineral potential along the Tireo trend, and will provide insight into the conductivity, magnetism, alteration and structure of the belt, in light of the Romero discoveries, which will be covered as part of the survey.
The data will complement the induced polarization, ground magnetic, mapping and sampling programs which has generally been confined to an area within 5 kilometers of Romero, leaving the majority of the 60 kilometer strike length of the Tireo Concessions unexamined to date. The survey covers areas that have been granted to GoldQuest, and those areas under application.
The Company’s 2014 approved budget for the Tireo Project covers the exploration of the Tireo Formation in the Dominican Republic, and includes this airborne survey, ground follow up and drilling of any anomalies in 2014.
At December 31, 2013, the Company had approximately $11 million in treasury and is funded to complete the 2014 work programs and beyond.
The data in this press release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., the Director, Technical Services of GoldQuest and a Qualified Person for the technical information in this press release under NI 43-101 standards.
